I am really looking forward to the current account. However I currently use a paid for Premier account that gives me free worldwide travel insurance, breakdown cover and gadget insurance. Although I pay £10 a month for my account the insurances are worth far more. Are you intending to offer something similar? If so I will definitely be signing up, I love the Monzo card and the whole Monzo ethos.
From what I have read on the forums, Monzo currently has no plans for paid current accounts or cash back/insurance schemes. Although I would have though that there will be some kind of rewards programme implemented further down the line once the current accounts are launched.
This article discusses some relevant topics that might interest you:
Some interesting thoughts in the article you shared Alex. One thing though, the topic thread seems to be based around free cashback rewards provided by major banks, rather than paid premium accounts.
It would be interesting to see whether offering a premium (paid) account with inclusive offerings such as travel insurance/breakdown cover etc. as Tony mentioned is financially beneficial to . It would definitely be interesting to get their thoughts on it (hint hint) .
Thanks Marjin, that’s a good point. Here’s my thoughts on Monzo providing the types of services (so any bolt on options that you typically get when you sign up for a premium account) that you’ve mentioned there -
it’d be great to hear your thoughts on this.
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